Federal Student Aid Assessments

Holly Langer-Evans and Michael Cagle

Session Objectives
To Demonstrate:

• The new Federal Student Aid Assessments • How the Assessments can assist with financial aid operations, audits and program reviews • How to navigate the Assessments • How a school can use the Assessments to resolve Title IV deficiencies and improve its policies and procedures manual • A Team Building Tool

What are the Federal Student Aid Assessments
Tools to:

Prevent non-compliance Identify compliance issues Establish management enhancements to correct problems

Why use the Federal Student Aid Assessments?
• Ensure compliance • Prepare for an Audit • Prepare for a program review • Correct deficiencies and to ensure findings do not recur • Develop or update policies and procedures manual • Train new staff

Where to find the Federal Student Aid Assessments

• IFAP http://ifap.ed.gov

Where to find the Federal Student Aid Assessments

•School Portal http://Federal Student Aid4schools.ed.gov

HERA

The Redesign of the Assessments
New Look and Feel Introduce the New Policy and Procedure Assessment

The Federal Student Aid Assessments – Re-Design

Why would you use the Federal Student Aid Assessments?

Policies & Procedures Assessment

• Policies and Procedures At A Glance • Minimum Requirements • Regulations • Activities

Potential Audit Findings
• Satisfactory Academic Progress Policy Not Adequately Developed / Impaired Administrative Capability Verification Incomplete

Title IV Accounts Not Reconciled

Lear n t o N avi gate the Assess ments Instr uctor Demonstrati on

http://ifap.ed.gov

Finding 1: SAP Policy Not Adequately Developed / Impaired Administrative Capability •Review SAP Assessment – Students •Policies and Procedures Assessment •SAP At a Glance •Activity 1 and Activity 2

Finding 1: SAP Policy Not Adequately Developed / Impaired Administrative Capability

• File Review Activities SAP Activity 1: SAP Not Met File Review Worksheet SAP Activity 2: SAP Met File Review Worksheet

Learn to Navigate the Assessments Instructor Demonstration
http://ifap.ed.gov

Finding: 2 – Verification Incomplete • Review Verification Assessment - Students • Policies and Procedures • Activity 4: Resolving Conflicting Data • Activity 5: Professional Judgment • Verification Comparison Charts

Learn to Navigate the Assessments Instructor Demonstration
http://ifap.ed.gov

Finding: 3 – Title IV Accounts Not Reconciled • Select Managing Funds – Fiscal Management • Select Activity 1 – Reconciliation Worksheets • Review Year End and Monthly Worksheet

Management Enhancement
An Action Plan To:

Identify compliance issues Assign the issue for correction Design a Corrective Action Plan

Effective Practices
• Innovation – Effective Practices • Opportunity to review a successful practice reported by one of your colleagues • Opportunity to report a successful practice to the Department.

Importance of Team Building

“It’s a fact that people working as a team can achieve better results than individuals working alone.”

Team Activity
• When I say go, list 10 body parts that have only 3 letters in them. You can’t use slang.

Answer Key Lip Hip Gum Ear Eye Jaw Rib Leg Arm Toe

Use the Team Building Tool

http://www.teambuildinginc.com

www.teambuildinginc.com

Summary
• If we can find it – so can you • Use the Assessments to fix problems before they are identified through an audit or a program review • Team Approach to the assessments is critical • Use the Management Enhancement as a corrective action plan and track progress

Questions